Lineage (NASDAQ:LINE) Earns “Equal Weight” Rating from Barclays

Lineage (NASDAQ:LINE)‘s stock had its “equal weight” rating reaffirmed by equities researchers at Barclays in a research note issued to investors on Tuesday, Marketbeat Ratings reports. They presently have a $38.00 target price on the stock, down from their previous target price of $47.00. Barclays‘s price target points to a potential upside of 2.90% from the stock’s previous close.

LINE has been the subject of several other research reports. Wells Fargo & Company decreased their target price on Lineage from $43.00 to $32.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 25th. Truist Financial set a $40.00 price target on Lineage in a research report on Monday, December 22nd. Royal Bank Of Canada decreased their price target on Lineage from $51.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, November 12th. JPMorgan Chase & Co. lowered their price objective on shares of Lineage from $43.00 to $38.00 and set an “underweight” rating for the company in a research report on Friday, November 14th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Lineage in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, Lineage presently has a consensus rating of “Reduce” and a consensus target price of $42.06.

Lineage Price Performance

LINE opened at $36.93 on Tuesday. Lineage has a 52-week low of $32.46 and a 52-week high of $62.30. The company has a 50 day moving average of $35.14 and a two-hundred day moving average of $39.06. The company has a market cap of $8.43 billion, a P/E ratio of -46.75 and a beta of -0.19. The company has a quick ratio of 0.86, a current ratio of 0.99 and a debt-to-equity ratio of 0.76.

Lineage (NASDAQ:LINE) last posted its earnings results on Wednesday, November 5th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.07. Lineage had a negative net margin of 3.30% and a negative return on equity of 1.85%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the business posted $0.90 EPS. The business’s quarterly revenue was up 3.1% on a year-over-year basis. On average, analysts expect that Lineage will post 2.34 earnings per share for the current year.

Insider Activity at Lineage

In related news, Chairman Adam Matthew Schwartz Forste acquired 74,000 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was bought at an average cost of $33.83 per share, with a total value of $2,503,420.00. Following the acquisition, the chairman directly owned 109,266 shares in the company, valued at approximately $3,696,468.78. The trade was a 209.83% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Kevin Patrick Marchetti bought 14,500 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was bought at an average cost of $33.72 per share, with a total value of $488,940.00. Following the transaction, the chairman directly owned 89,168 shares in the company, valued at approximately $3,006,744.96. The trade was a 19.42% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 129,000 shares of company stock worth $4,366,940 in the last ninety days. 71.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lineage

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada raised its stake in Lineage by 15.2% during the first quarter. Royal Bank of Canada now owns 4,956 shares of the company’s stock valued at $290,000 after buying an additional 653 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of Lineage in the 1st quarter worth approximately $886,000. Millennium Management LLC raised its position in shares of Lineage by 197.0% during the 1st quarter. Millennium Management LLC now owns 288,518 shares of the company’s stock valued at $16,916,000 after acquiring an additional 191,362 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Lineage by 26.3% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,373 shares of the company’s stock valued at $669,000 after acquiring an additional 3,201 shares in the last quarter. Finally, Perkins Coie Trust Co bought a new position in Lineage during the second quarter worth $765,000.

Lineage Company Profile

Lineage Logistics, Inc (NASDAQ: LINE) is a leading provider of temperature-controlled industrial real estate and supply chain solutions. The company specializes in refrigerated and frozen storage, transportation, and ancillary services designed to support the global perishable goods industry. From food manufacturers and distributors to retailers and foodservice operators, Lineage offers tailored temperature management solutions that help clients optimize inventory turnover, reduce waste, and maintain product quality throughout the cold chain.

Lineage’s core services include ambient, refrigerated and frozen warehousing, cross-docking, transloading, and dedicated transportation.